USD overtakes CAD
In their race to see who can become worthless first, the US dollar has overtaken the Canadian dollar!
During today's trading, the USD hit 42.20 milligrams of gold, while the CAD traded for 42.41 mg. Can the USD maintain it's lead or will the CAD be able to recover it's advantage?
Ottawa is hampered by an excess of oil, mineral depsoits and other natural resources, but it's socialist government has plenty of pulling power when it fires up new entitlement peograms. Washington, of course, has the Federal Reserve under the command of "Helicopter Ben" on it's side, and is showing it's stuff with drops in the discount and fed funds rates.
I think it's safe to say that this will be an exciting race to watch, especially if you are holding gold, or even better, investments that are growing in gold value!